The document provides a technical analysis of IPCALAB stock. It summarizes that: 1) Chart patterns on monthly and daily timeframes indicate a bullish reversal in the downward trend of the stock. 2) The stock halted its correction at a 78.20% Fibonacci retracement level of its previous up move. 3) Momentum indicators like moving averages and RSI show positive momentum building in the stock. 4) Based on the technical analysis, the stock is expected to rise to the 540-550 level over the next few trading sessions.

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On Monthly chart, stock has formed Bullish Harami candlestick
which is a bullish reversal candlestick and giving a sign of a
reversal of the downward trend.
On Fibonacci retracement front, after decent fall from its all-time
high 906.85 level, stock halted its correction at 400 level which is
a 78.20% Fibonacci Retracement level of its previous up move
from 225 to 906.85 level.
On daily chart, stock has been trading with positive crossover of
21*50 Day Moving Average since last many days, which shows
that gradually sponsors are taking place.
Even stock has given positive breakout of its range bound move
in which it had been trading for more than a week.
A momentum indicator RSI reading is at 59.30 level with positive
crossover, besides RSI has given breakout of its pennant pattern,
which point out for positive breath in the stock.
Based on the above structure on different time frame, we can
expect that stock could climb to the upside level of 540-550 in
few trading session.
Buy IPCALAB in Cash @ 486 SL 460 TGT 540
20th July-2016
TECHNO BUY
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Research Team
Mr. Sumeet Bagadia Associate Director
Kunal Parmar Research Associate
Amit Pathania Research Associate
Kapil Shah Research Associate
Vikas Chaudhari Research Associate
Rohan Patil Research Associate
Trirashmi Ghoderao Research Advisor
Neeraj Yadav Research Advisor
20th July-2016
TECHNO BUY
Kunal Parmar
Digitally signed by Kunal Parmar
DN: cn=Kunal Parmar, o=Choice Equity Broking Pvt
Ltd., ou=Research Dept,
email=kunal.parmar@choiceindia.com, c=IN
Date: 2016.07.20 14:39:41 +05'30'